Want to turn a prospective noob off of bitcoin forever?: explain that the key attribute is an immutable fixed supply; then, try to explain why there are 2.1 quadrillion bitcoin when there used to only be 21 million.
Discussion
Bitcoin should remain but we need more denominations between.
I'm all for it... a well established prefix for 1/1,000,000 would be 'micro'. So, we could use 1 micro-bitcoin = 100 sats, for example.
Gold for example uses Tonnes, Kilo, Ounce, Grams. I think at least that many denominations are appropriate.
I think 1,000 sats = 1 bit would work nicely
You just move the decimal 5 places left
That was argued over years ago, people tried bits and millibits and it just confused everyone. What didn't confuse everyone was Bitcoins and Satoshis.
This would never hapopen with monero! 1 xmr = 1 xmr always!
a) nothing has happened; b) I'm all for someone using monero if that's what they prefer.
True, nothing happened yet, however, blackrock did state that the supply might not be fixed at 21M and now this proposed change comes along.
https://protos.com/bitcoin-supply-may-not-be-fixed-at-21m-says-blackrock/
So, do you consider blackrock some sort of authority on bitcoin?... or is this a case that they are just as free to say or propose something stupid re:bitcoin as anyone else?
No i dont think they are an authority on btc, however, I do think they have tons of funds, and can pay off just about anyone. maybe core dev would be a target for them? I do agree it is a stupid proposal but just keeping in mind what big investors may try.
Conceivably, blackrock could fund a fork (a la Bitcoin Cash). But there's no way to force everyone who wants a fixed supply to use the fork without a fixed supply. That would just end up being a really expensive mistake for blackrock.
They'd be able to fork off for free. Even if they did pay off a dev, so what? Would you run that version of the software?